The Money Summit 2023 opened yesterday in Accra with the Chief Executive Officer of the Business and Financial Times (B&FT), Dr. Godwin Acquaye, in his opening remarks saying the summit seeks to enhance investor confidence and bring together actors in the financial sector to provide solutions that will anchor investor confidence in the economy, as well as ease the hardship faced by businesses and the average Ghanaian.
He acknowledged challenges faced by the financial sector globally, which have also impacted the country’s economy badly.
The annual Summit provides a platform for stakeholders from various sectors to come together and discuss strategies to overcome challenges and capitalise on opportunities in the financial sector.
Among the prominent discussants, Managing Director-Ghana Stock Exchange (GSE), Abena Amoah, highlighted the importance of collaboration to construct a strong financial system for sustainable economic growth.
She also emphasised the urgent need to foster a culture of transparency, integrity and accountability among government, regulatory bodies, financial institutions, private sector entities and civil society.
“By strengthening governance frameworks, enhancing risk management systems and promoting ethical behaviour, we can establish a financial ecosystem that commands trust and attracts investment,” she stated.
Creating a healthy ecosystem for banks, capital markets, insurance companies, pension funds and other financial institutions is vital in creating an environment conducive for growth, innovation and shared prosperity.
Additionally, by promoting financial inclusion through innovative technologies and inclusive policies, the formal economy can be made more accessible; thus stimulating consumption and driving economic growth from the grassroots upward.
Indeed, a robust financial system is a ‘sine qua non’ in facilitating cross-border transactions, mitigating risks and providing necessary financial instruments – particularly as the African Continental Free Trade Area (AfCFTA) is at full throttle.
The summit theme, ‘Africa’s robust financial sector: The catalyst for sustainable economic growth’, underlaid the course for lively discussions, presentations on topics such as capital mobilisation, financial inclusion, trade and investment, innovation and sustainable finance to name a few.
The Summit also highlighted the significance of regional integration and collaboration initiatives such as the African Exchanges Linkage Project (AELP), and partnerships between organisations like the African Securities Exchanges Association (ASEA) and Pan-African Payments and Settlement System (PAPSS).
